Security concerns over rising terrorist threats, increasing IP infrastructure and construction of public infrastructures will drive Kuwait's video surveillance systems market to register a growth of 5 per cent in 2015, a report said.
The market beheld sharp decline in the overall shipment for analog video surveillance cameras, on account of increasing penetration of IP technology, noted the report entitled "Kuwait's Video Surveillance Market (2015-2021)" by 6Wresearch, a global market research and consulting firm specializes in niche and emerging markets.
"Furthermore, demand for IP video surveillance systems to continue to proliferate in the coming years, owing to construction of three new cities," said Prijo Samuel, senior research analyst, Research and Consulting, 6Wresearch.
"Kuwait likely to spend nearly $90-100 billion on the upcoming Silk City (Madinat Al-Hareer) project, subsequently triggering the growth for IP technology based surveillance security systems."
According to Akash Shukla, research associate, Research and Consulting, 6Wresearch, Kuwait video surveillance market is witnessing growing trend on hybrid video surveillance solutions and emergence of smart homes, resulting a steep increase in network electronic security solutions.
"Al-Kuwayt governorate region being the largest commercial hub in Kuwait, held largest revenue share in the overall video surveillance market in Kuwait, followed by Al-Farwaniya and others." Shukla said.
Some of the companies in Kuwait's video surveillance market include- Axis Communications, Bosch Security Systems, Hikvision, Honeywell, Pelco by Schneider Electric and Samsung Techwin, according to the report
Media Source: Trade Arabia